America's most and least 'successful' states

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What Comes First: Happiness Or Success?

Have you ever wondered where the richest people in America reside? How would your home state rate if it was measured by the level of financial success among its residents?

Now you can find out, thanks to a recent GOBankingRates report on the most and least successful states.

The report ranks states based on the following factors:

  • Average income of the top 1 percent
  • Average income of the bottom 99 percent
  • Poverty rate
  • Percentage of population in the upper, middle and lower classes
  • Number of millionaires and billionaires
  • Ratio of millionaires to total households

Based on those economic factors, Connecticut — home to nearly 101,000 millionaire households, 12 billionaires and a relatively low poverty rate of 10.8 percent — earned high marks and the top spot on GOBankingRates' list of the most successful states in America.

The report noted that not only is the average income of the top 1 percent in Connecticut the highest in the nation — $2.4 million — but the other 99 percent who live there enjoy an average income — $56,445 — that's "higher than incomes in most states."

Although living in one of our nation's most financially successful states will not automatically make you rich or successful, GOBankingRates says "living in a state that offers families a richer life and boasts a fair share of people who are thriving financially might help you achieve the financial success you've always wanted."

These are the top 10 most successful states in America based on the GOBankingRates' report:

10 most successful states in America
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10 most successful states in America
1. Connecticut 
2. Maryland
3. New Jersey
4. Massachusetts 
5. New Hampshire
6. Washington D.C.
7. California 
8. Alaska
9. North Dakota
10. Virginia 

In stark contrast to the success and wealth enjoyed by many residents in America's most successful states, the following states earned the dubious distinction of being the five least successful states in the U.S.:

  1. Mississippi
  2. New Mexico
  3. West Virginia
  4. Arkansas
  5. Kentucky

Click here to see the report in its entirety, including specific information about each state.

Where did your state rank? Share your comments below or on Facebook.

RELATED: Jeff Bezos' secrets to success

jeff bezos secrets to success
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jeff bezos secrets to success

Use your childhood passions as a starting point

Bezos' passion for science as a child fueled his ability to create, innovate and discover.

It's reported that he invented an electric alarm in his parents' garage to keep his half-siblings out of his room. 

Photo credit: Getty

Remember where you came from

Bezos used to spend his summers working on his grandfather's cattle farm. It's helped keep Bezos humble, and serves as a reminder to always work hard.

Photo credit: Getty

Be prepared for ideas to strike you at any time

Bezos wrote down his business plan on a car ride from NY to Seattle.

Photo credit: Getty

Be open to rebranding

Bezos originally wanted to call Amazon "Cadabra" but changed his mind when potential customers were mispronouncing and mishearing the name. 

Another former name, "Relentless," still redirects its URL to Amazon today.

Photo credit: Shutterstock

Adopt a unique management strategy

Bezos implements a company policy in which each employee has to spend two days after every two years at the customer service desk.

Best part? This includes Bezos himself.

Photo credit: AP

Abide by the "Two Pizza Rule"

Bezo's golden rule: In order to have a successful business venture, one should form small teams consisting of the number of people it would take to finish two pizzas.

Photo credit: Getty

Don't think that you're immune to failure crashed for 40 minutes in 2013, costing the company $4.8M. 

Photo credit: Getty

Never stop expanding 

Since Amazon has launched, the company has made several million-dollar acquisitions, such as Zappos, IMDB and The Washington Post.

Bezos also founded a space travel company called Blue Origin in 2000 and is currently chairing the construction of  a 10,000 year clock in Texas.

Photo credit: Shutterstock

Train your employees for success, no matter where they go

Amazon employees leave the company skilled and ready to blaze trails of their own. Former employees include Jason Kilar (founder of Hulu and Vessel) and Charlie Cheever (founder of Quora).

Photo credit: Getty

Don't limit yourself to one specialty 

Amazon started solely as an e-book seller. The company now sells goods across over 15 categories.

Photo credit: AOL


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